Packaging and paper products company Cascades Inc said it will sell Dopaco Inc, its foodservice packaging business, to Reynolds Group Holdings Ltd for $400 million in an all-cash deal. Net proceeds from the transaction, expected to close before the end of April, will be used mainly to pay down debt, Cascades said in a statement. The company said the sale is part of its overall strategy to gain more financial flexibility. It has total liabilities of C$2.4 million ($2.5 million), according to Thomson Reuters data.
Source
